SAN ANTONIO, Sept. 10, 2020 (Globe NEWSWIRE) — Rackspace Technologies Global, Inc. (NASDAQ: RXT) (the “Company”), a primary conclude-to-conclusion multicloud technological innovation alternatives firm, now announced the remaining success for its earlier introduced tender offer you (the “Tender Offer”) to acquire for hard cash up to $600. million mixture principal total of its close to $1,120.2 million outstanding 8.625% Senior Notes owing 2024 (the “Notes”). The Tender Supply expired at the finish of the working day, 12:00 midnight, New York Metropolis time on Wednesday, September 9, 2020 (the “Expiration Time”).
On August 27, 2020, the Corporation procured $507.636 million aggregate principal quantity of Notes that had been tendered at or prior to the conclude of the working day, 12:00 midnight, New York Town time on Tuesday, August 25, 2020 (the “Early Tender Time”). On September 10, 2020, the Corporation was advised by World wide Bondholder Solutions Corporation, as Depositary for the Tender Give, that after the Early Tender Time and at or prior to the Expiration Time, an further $7,320,000 million in mixture principal sum of the superb Notes experienced been validly tendered and not withdrawn in the Tender Offer.
Issue to the terms and conditions of the Tender Present, as described in the Provide to Acquire, and the push release dated August 26, 2020, the Enterprise has approved for invest in all Notes validly tendered and not validly withdrawn prior to the Expiration Time, with the settlement date for this sort of acquire predicted to manifest on or about September 11, 2020.
About Rackspace Know-how
Rackspace Technological know-how is a major end-to-close multicloud technologies companies company. We can style and design, construct and run our customers’ cloud environments throughout all major technologies platforms, irrespective of technological innovation stack or deployment product. We lover with our buyers at every stage of their cloud journey, enabling them to modernize applications, construct new goods and undertake innovative systems.
Rackspace Technologies Safe Harbor Statement
Some of the statements in this information launch represent “forward-searching statements” that do not directly or completely relate to historic details. The forward-on the lookout statements produced in this release reflect the Company’s intentions, ideas, expectations, assumptions and beliefs about potential occasions and are issue to dangers, uncertainties and other elements, a lot of of which are outside the house of the Company’s control. Known hazards consist of, amid other folks, the dangers involved in Rackspace Technological know-how, Inc.’s filings with the U.S. Securities and Trade Commission. Simply because real effects could differ materially from the Company’s intentions, plans, anticipations, assumptions and beliefs about the future, you are urged to see all forward-searching statements contained in this press release with caution. The Firm does not undertake any obligation to update or revise any ahead-searching statements, no matter whether as a consequence of new information and facts, foreseeable future situations or normally.
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